In my last commentary, The World Bank and Ethiopia’s “Growth and Transformation”, I cryptically observed in passing, “… The USD$600 million is money the World Bank loaned to the Thugtatorship of the Tigrean Peoples Liberation Front (T-TPLF) in the name of the People of Ethiopia. Future generations of Ethiopians will be asked to pay it back….
The World Bank lies, Ethiopia dies… from onerous “odious debt” I had completely forgotten about the so-called “Growth and Transformation Plan” (GTP) of 2010, until the World Bank reminded me of it last week. by Alemayehu G. Mariam That “Plan” was the late Meles Zenawi’s gimmick about having an economic plan for Ethiopia. “Ethiopian economic growth…
The Sandcastles and Dams of African Dictators All dictators on the African continent have sought immortality by leaving a legacy that will outlive them and endure for the ages. But all have inherited the wind. Kwame Nkrumah led the first sub-Saharan African country to gain independence from colonialism in 1957. Nkrumaism sought to transform Ghana into…
Alemayehu G. Mariam “Bondage” is the state of being bound by or subjected to some external power or control. When people are bound by debt, they are in “debt bondage”. When they are held in involuntary servitude, they are in “bondage slavery”. Before much of Africa became “independent” in the 1960s, Africans were held under…
First, Why is Africa Poor? George Ayittey, the renowned Ghanaian economist and president of the Free Africa Foundation swears that “Africa is poor because she is not free”. Like Ayittey, Robert Guest, business editor for The Economist, in his book The Shackled Continent (2004), declares that “Africans are poor because they are poorly governed.” He argues that…
Alemayehu G. Mariam On December 21, 1987, Time Magazine on its cover page featured a downcast and crestfallen young Ethiopian mother as a symbol of famine victims in that country. Time asked two timeless questions: “Why are Ethiopians starving again? What should the world do and not do?”…
There is the economics of Adam Smith, the intellectual father of capitalism. There is Levitt & Dubner’s freakonomics of weird stuff. Then there is the fakeonomics (economics by gimmickry) of Meles Zenawi, the dictator in Ethiopia and author of the five-year “Growth and Transformation Plan” (GTP). Zenawi forecasts a “not unimaginable” 14.9 percent economic growth for…
